ACCT 405 Accounting of Financial Institutions

ACCT 405 Accounting of Financial Institutions

Assignment (1)

Deadline: Saturday 16/10/2021 @ 23:59

 

 

Course Name: Accounting of Financial Institutions Student’s Name:
Course Code: ACCT 405 Student’s ID Number:
Semester: 1st CRN: 14013
Academic Year: 1443 H

 

 

For Instructor’s Use only

Instructor’s Name: Dr. Mohammed Arshad Khan
Students’ Grade: /5 Level of Marks: High/Middle/Low

Instructions – PLEASE READ THEM CAREFULLY

· The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.

· Assignments submitted through email will not be accepted.

· Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.

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· Students must mention question number clearly in their answer.

· Late submission will NOT be accepted.

· Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.

· All answers must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism.

· Submissions without this cover page will NOT be accepted.

Assignment Question(s): (Marks 5)

1) Alternative to fair value accounting, amortized cost accounting, uses expectations of cash flows and prices risks determined at initiation to account for financial instruments throughout their life. Discuss the three undesirable features of amortized cost accounting as compared to fair value accounting. (Marks 1.5)

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2) Users of financial reports must assess banks’ current and expected future reserve and capital levels, because these levels affect the ability of banks to grow. Both thrifts and commercial banks can be either state or federally chartered, in what is referred to as the dual banking system. Explain the dual banking system along with the role of Comptroller of the Currency (COC), Office of Thrift Supervision (OTS) and Federal Deposits Insurance Corporation (FDIC). (Marks 1.5)

3) Financial Institutions speculate on the yield curve when they invest in financial assets with durations different from those of their financial liabilities. Thrifts bear interest rate risk when their financial assets and liabilities are imperfectly matched on duration. Discuss the interest rate risk of Thrifts with reference to Yield Curve Speculation. (Marks 02)

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